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Simple Summary: The Przewalski's horse (Equus ferus przewalskii), the only extant species of wild horse, was extinct in the wild in 1960s. The wild horse has been successfully saved from extinction by captive breeding projects outside the historic range. Although multiple studies were conducted, the main problems such as loss of founder genes, inbreeding depression, hybridization with domestic horses, high morbidity and mortality, and a lack of reliable prevention strategies and treatment limitations of these problems are still unresolved and require further scientific effort. This review aims to increase understanding of the scientific attributes that make the survival of the species possible and how these attributes can be useful for appropriate design of conservation and management strategies oriented to improve the viability of the existing population of the species. This review summarizes studies on Przewalski's horse since its extinction in the wild in the 1960s, with a focus on the reintroduction projects in Mongolia and China, with current population status. Historical and present distribution, population trends, ecology and habitats, genetics, behaviors, conservation measures, actual and potential threats are also reviewed. Captive breeding and reintroduction projects have already been implemented, but many others are still under considerations. The review may help to understand the complexity of problem and show the directions for effective practice in the future. [ABSTRACT FROM AUTHOR]